Corebridge Financial Inc. Sells 390 Shares of NewMarket Co. (NYSE:NEU)

Corebridge Financial Inc. cut its position in shares of NewMarket Co. (NYSE:NEU) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,679 shares of the specialty chemicals company’s stock after selling 390 shares during the quarter. Corebridge Financial Inc. owned about 0.09% of NewMarket worth $4,586,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NEU. Vanguard Group Inc. grew its holdings in NewMarket by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 731,312 shares of the specialty chemicals company’s stock worth $386,389,000 after acquiring an additional 8,951 shares during the period. LPL Financial LLC grew its stake in NewMarket by 49.2% during the fourth quarter. LPL Financial LLC now owns 4,145 shares of the specialty chemicals company’s stock worth $2,190,000 after purchasing an additional 1,367 shares during the period. KLP Kapitalforvaltning AS bought a new stake in NewMarket in the fourth quarter worth approximately $1,698,000. AXQ Capital LP acquired a new position in NewMarket in the fourth quarter valued at approximately $294,000. Finally, American Century Companies Inc. boosted its holdings in shares of NewMarket by 147.2% during the 4th quarter. American Century Companies Inc. now owns 47,717 shares of the specialty chemicals company’s stock worth $25,211,000 after buying an additional 28,417 shares in the last quarter. Institutional investors own 61.09% of the company’s stock.

NewMarket Price Performance

Shares of NYSE NEU opened at $552.19 on Monday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 11.45 and a beta of 0.41. The firm’s 50-day moving average price is $532.52 and its 200-day moving average price is $532.78. The company has a current ratio of 2.75, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. NewMarket Co. has a 1-year low of $480.00 and a 1-year high of $637.40.

NewMarket (NYSE:NEU) last posted its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $11.56 earnings per share for the quarter. NewMarket had a return on equity of 35.48% and a net margin of 16.59%.

NewMarket Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $2.75 dividend. The ex-dividend date is Monday, March 17th. This represents a $11.00 annualized dividend and a yield of 1.99%. This is an increase from NewMarket’s previous quarterly dividend of $2.50. NewMarket’s dividend payout ratio (DPR) is presently 22.82%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of NewMarket from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th.

NewMarket Profile

NewMarket Corporation, through its subsidiaries, primarily engages in the manufacture and sale of petroleum additives. The company offers lubricant additives for use in various vehicle and industrial applications, including engine oils, transmission fluids, off-road powertrain and hydraulic systems, gear oils, hydraulic oils, turbine oils, and other applications where metal-to-metal moving parts are utilized; engine oil additives designed for passenger cars, motorcycles, on and off-road heavy duty commercial equipment, locomotives, and engines in ocean-going vessels; driveline additives designed for products, such as transmission fluids, axle fluids, and off-road powertrain fluids; and industrial additives designed for products for industrial applications consisting of hydraulic fluids, grease, industrial gear fluids, and industrial specialty applications, such as turbine oils.